Residential Mortgage
Project: Private Client
Broker: Richard Stock
Client Requirement: Development Exit
Loan Amount: £1.5 million debt (£2.5m value)
Structure: SPV
Asset Class: 5 residential flats
Rate: 0.44% PCM - 2 year term
Deal Narrative:
Our client was a developer who had used his own funds to build 5 new residential apartments. Prior to the sale of these properties, the client identified a new development opportunity and needed liquidity to start the scheme.
We were able to secure a low rate development exit loan on the client’s current development at 60% leverage in just 6 weeks, including a re-inspection.